BOULDER, Colo. -- You might expect someone who talks like an expert investor to provide a couple of stock tips, even on this Black Monday 2008. But one Ivy League grad, who lives and breathes the financial markets, says you might want to sit out of the stock market for some time.

"Do not put it in the market when it's low because the market's in a primary bear market. Trend is your friend. That means we're going lower," said Marc Mandel, talk show host for KNRC AM 1060.

He's the self-styled "Wizard of Wall Street," breaking it all down from the fourth floor of a commonplace office complex that looks out over the Flatirons.

"This is a very scary time for people. So the first thing they must do is be calm," Mandel said. "Put your money in the bank."

Mandel said what happened Monday was a stock market crash and gains may not come for a couple of weeks. Investors can be forgiven for feeling skittish after the past few days on Wall Street. Losses are followed by smaller gains, then greater losses, he said.

A banking executive said Mandel has it right; that banks, especially local ones, are the smart play.

"They are the safe haven other people go to in uncertain times," said Don Childears, president of the Colorado Banker's Association.

Childears said local banks are in a good position to make loans and have even enjoyed increased deposits of late.

"But a lot of community banks use their own local deposit base to fund loans in the local community. And so, they've had minimal impact to date," Childears said.